I purchased some $MO last year, been a pretty good investment and I definitely like the dividends. I do not exactly understand the multiple complexities of the cigarette / tobacco market, I'm much more comfortable with Mining followed by Oil, but it's an area I definitely have an interest in. Thank you for your analysis, Phillip Morris International seems to have great market share in a diverse global footprint. Might be particularly defensive for any possible recession and/or dollar currency devaluation over coming months and years. Just subscribed.
Have you followed closely the bankruptcies of the Canadian subsidiaries of PMI, BATS, and IMB? I think this has been dragging on since the 2015 Quebec judgment. Do you have any opinion on whether a resolution is near or what it might look like?
I can't speak to the specifics of the Quebec judgment beyond what I wrote in my piece on PMI Americas, but I can say that these companies have dealt with more litigation and adverse rulings than probably any other group of companies in history. And yet they continue to generate substantial FCF. Check out "A Question of Intent" by Kessler to get an idea of how hard it is to go up against Big Tobacco.
I purchased some $MO last year, been a pretty good investment and I definitely like the dividends. I do not exactly understand the multiple complexities of the cigarette / tobacco market, I'm much more comfortable with Mining followed by Oil, but it's an area I definitely have an interest in. Thank you for your analysis, Phillip Morris International seems to have great market share in a diverse global footprint. Might be particularly defensive for any possible recession and/or dollar currency devaluation over coming months and years. Just subscribed.
Thank you for the 2 references, I will look into them!
Have you followed closely the bankruptcies of the Canadian subsidiaries of PMI, BATS, and IMB? I think this has been dragging on since the 2015 Quebec judgment. Do you have any opinion on whether a resolution is near or what it might look like?
I can't speak to the specifics of the Quebec judgment beyond what I wrote in my piece on PMI Americas, but I can say that these companies have dealt with more litigation and adverse rulings than probably any other group of companies in history. And yet they continue to generate substantial FCF. Check out "A Question of Intent" by Kessler to get an idea of how hard it is to go up against Big Tobacco.